Medical Nitrous Oxide Market Size by Product (Gas, Liquid), Application (Anaesthesia, Pain, Cryosurgery, Surgical Insufflation), End User (Hospital, Home healthcare, Academic, Research Institution), Key Stakeholder & Buying Criteria - Global Forecast to 2029
The size of global medical nitrous oxide market in terms of revenue was estimated to be worth $1.8 Billion in 2023 and is poised to reach $2.8 Billion by 2029, growing at a CAGR of 6.6% from 2023 to 2029. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market.
The primary impetus behind the market stems from various factors, including the expanding elderly population, improvements in healthcare infrastructure, the desire for non-invasive pain relief methods, and the presence of supportive regulations and standards governing the utilization of medical gases. Furthermore, the escalating volume of surgical procedures, observed in both developed and developing nations, creates a favorable prospect for the heightened adoption of medical nitrous oxide in anesthesia and analgesia, presenting additional avenues for industry expansion.
Global Medical Nitrous Oxide Market Trend
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Medical Nitrous Oxide Market Dynamics
Driver: Improvements in healthcare infrastructure
Enhancements in healthcare infrastructure serve as a catalyst for the growth of the market. The continuous improvement and development of healthcare facilities contribute significantly to the increased demand for medical nitrous oxide. This is attributed to the heightened capability of upgraded healthcare infrastructure to support advanced medical procedures, including surgeries and pain management, wherein nitrous oxide plays a crucial role. As healthcare systems evolve and modernize, the demand for medical nitrous oxide is expected to rise proportionately, aligning with the evolving needs and standards of sophisticated healthcare delivery.
Restraint: Availability of alternatives
The presence of alternative solutions poses a restraint to the market. The availability of other options for anesthesia and pain management in healthcare settings creates a competitive environment for medical nitrous oxide. Healthcare providers may opt for alternative methods based on factors such as patient preferences or specific medical requirements, impacting the market demand for nitrous oxide. This competition from alternative solutions represents a challenge for the widespread adoption of medical nitrous oxide in certain medical procedures.
Opportunity: Growing demand for pain management
The increasing demand for pain management presents a significant opportunity for the market. As the need for effective and non-invasive pain relief methods continues to grow, medical nitrous oxide stands poised to capitalize on this trend. The unique analgesic properties of nitrous oxide make it a valuable asset in pain management within healthcare settings. This rising demand positions medical nitrous oxide as a preferred choice for healthcare professionals seeking efficient solutions for pain relief, thereby contributing to the expansion and opportunities within the market.
Challenge: Limited awareness
Limited awareness poses a challenge to the market. The insufficient understanding and awareness among healthcare professionals and patients regarding the benefits and safety of nitrous oxide hinder its widespread adoption for medical and dental procedures. Overcoming this challenge requires targeted educational initiatives to enhance awareness and promote the advantages of using nitrous oxide in various healthcare settings. Increasing knowledge within the medical community and among patients is crucial for fostering greater acceptance and utilization of nitrous oxide, addressing the challenge of limited awareness in the market.
Ecosystem of Medical Nitrous Oxide Industry:
The gasesous segment of medical nitrous oxide industry is expected to account for the largest market share in 2023
In 2023, the medical nitrous oxide market experienced segmentation into gaseous and liquid states based on products, with the gaseous segment taking the lead. The prominence of the gaseous state within the market can be credited to its adaptability in various applications, notably for anesthesia and analgesia in surgical procedures. The inclination towards the gaseous form in medical settings is influenced by its easy administration, accurate dosage control, and rapid onset of action.
The anesthesia and pain relief segment of medical nitrous oxide industry to register the highest growth rate in the forecast period.
In 2023, the medical nitrous oxide market was classified into segments including anesthesia and pain relief, cryosurgery, and surgical insufflation. The anesthesia and pain relief segment emerged as the dominant category, holding the largest market share. The supremacy of anesthesia and pain relief applications within the market is ascribed to their pivotal roles in both surgical and medical procedures. Nitrous oxide, well-regarded for its anesthetic and analgesic properties, finds widespread adoption in healthcare settings due to its effectiveness in inducing conscious sedation and alleviating pain during various medical interventions. This dominance is evident in the extensive use of nitrous oxide by healthcare professionals, leveraging its ability to provide rapid and controllable sedation, thus significantly enhancing patient comfort and procedural success.
The home healthcare segment of medical nitrous oxide industry is expected to register the highest growth during the forecast period
The medical nitrous oxide market is classified by end user into hospitals, home healthcare, and academic and research institutions. As of 2023, the home healthcare segment is expected to register the highest growth during the forecast period . This is primarily due to evolving healthcare trends and an increasing preference for healthcare services delivered in the comfort of patients' homes. The demand for medical nitrous oxide in home healthcare settings is rising as it becomes a viable option for pain management and certain medical procedures outside traditional healthcare facilities. The convenience, flexibility, and personalized nature of home healthcare contribute to the substantial growth of the market within this particular segment.
North America to be the largest regional segment in the medical nitrous oxide industry during the forecast period.
Based on the region, the global medical nitrous oxide market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to hold the largest share of the market in 2023. The Asia Pacific region is anticipated to experience the most rapid growth during the forecast period. The significant expansion of the market in the Asia Pacific can be attributed to the a rise in surgical procedures, dynamic growth in healthcare infrastructure, and an increasing awareness of the advantages of nitrous oxide. These factors collectively contribute to an increased demand for medical nitrous oxide in the APAC region.
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The medical nitrous oxide market is dominated by a few globally established players such as Southern Gas Limited (India), Jiangsu Huazhong Gas Co., Ltd. (China), American Welding & Gas (US), Carbide and Chemicals (India), nexAir (US), Air Liquide (Paris), Linde plc (Ireland), Messer SE & CO. KGAA (Germany), SOL SpA (Italy), Chengdu Taiyu Industrial Gases Co., Ltd. (China),Oxygen & Argon Works Ltd (Israel), Matheson Tri-Gas Inc. (US), CalOx (US), Steelman Gases Pvt. Ltd. (India), Earlbeck Gases & Technology (US), Ellenbarrie Industrial Gases (India), Norco Inc. (US), and Gulf Cryo (UAE).
Scope of the Medical Nitrous Oxide Industry
|
Report Metric |
Details |
|
Market Revenue Size in 2023 |
$1.8 Billion |
|
Projected Revenue Size by 2029 |
$2.8 Billion |
|
Industry Growth Rate |
Poised to Grow at a CAGR of 6.6% |
|
Market Driver |
Improvements in healthcare infrastructure |
|
Market Opportunity |
Growing demand for pain management |
The study categorizes the medical nitrous oxide market to forecast revenue and analyze trends in each of the following submarkets:
By Product
- Gaseous State
- Liquid State
By Application
- Anesthesia and Pain Relief
- Cryosurgery
- Surgical Insufflation
By End User
- Hospitals
- Home Healthcare
- Academic & Research Institutions
By Region
-
North America
- US
- Canada
-
Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
-
Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- Latin America
- Middle East & Africa
Recent Developments of Medical Nitrous Oxide Industry:
- In December 2023, Linde Healthcare has partnered with the Air Force Materiel Command to supply liquid oxygen and nitrogen to healthcare, manufacturing, metals, and mining.
- In July 2023, Air liquid started a project to transform the Home Healthcare activity in France to align it with the needs and expectations of patients and healthcare professionals and adapt its business model to meet the challenges of the country's healthcare system.
Frequently Asked Questions (FAQ):
What is the projected market revenue value of the global medical nitrous oxide Market?
The global medical nitrous oxide market boasts a total revenue value of $2.8 Billion by 2029.
What is the estimated growth rate (CAGR) of the global medical nitrous oxide Market?
The global medical nitrous oxide market has an estimated compound annual growth rate (CAGR) of 6.6% and a revenue size in the region of $1.8 Billion in 2023. .
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The study involved four major activities in estimating the current size of the medical nitrous oxide market. Exhaustive secondary research was done to collect information on the market and its different sub-segments. The next step was to validate these findings, assumptions, and market sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate the market size of the segments and sub-segments.
Secondary Research
This research study involved the extensive usage of secondary sources; directories; databases such as Bloomberg Business, Factiva, and Wall Street Journal; white papers and annual reports; company house documents; investor presentations; and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and commercial study of the brain monitoring market. It was also used to obtain important information about the key market players, market classification & segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives. A database of the key industry leaders was also prepared using secondary research.
Primary Research
In the primary research process, various primary sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information important for this report. Primary sources from the supply side include industry experts such as CEOs, vice presidents, marketing directors, technology and innovation directors, and related executives from various key companies and organizations operating in the medical nitrous oxide market. After the complete market engineering process (which includes calculations for market statistics, market breakdown, market size estimations, market forecasting, and data triangulation), extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at.
Some of the major objectives of primary research are:
- To validate market segmentation defined through an assessment of the product portfolios of leading players
- To understand the key industry trends and technologies defining the strategic growth objectives of market players
- To gather both demand- and supply-side validation of the key factors affecting the market growth
- To validate assumptions for the market sizing and forecasting model used for this study
- To understand the market position of leading players in the medical nitrous oxide market and their market share/ranking
Breakdown Of Primary Participants
*Others include sales managers, marketing managers, and product managers.
Note: Tiers are defined based on a company’s total revenue. As of 2023, Tier 1 = >USD 1 billion, Tier 2 = USD 500 million to USD 1 billion, and Tier 3 = <USD 500 million.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Top-down approach used to estimate and validate the total size of the Medical nitrous oxide market. This methods were also used extensively to estimate the size of various subsegments in the market.
Top-down approach
The overall medical nitrous oxide market size was used in the top-down approach to estimate the sizes of other individual markets (mentioned in the market segmentation by product, application, end user, and region) through percentage splits from secondary and primary research.
For the calculation of each type of specific market segment, the most appropriate immediate-parent market size was used for implementing the top-down approach. The bottom-up approach was also implemented (wherever applicable) for data extracted from secondary research to validate the market segment revenues obtained. Market shares were then estimated for top companies to verify the total market revenue arrived earlier in the bottom-up approach.
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Data Triangulation
After arriving at the overall market size, from the market size estimation process explained above, the medical nitrous oxide market was split into segments and subsegments. To complete the overall market engineering process and to arrive at the exact statistics for all segments and subsegments, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the medical nitrous oxide industry.
Market Definition
Medical nitrous oxide is a pharmaceutical-grade, colorless, and odorless gas widely employed in healthcare settings for its anesthetic and analgesic properties. It is utilized as a medical gas in controlled environments, primarily in hospitals and dental clinics, to induce conscious sedation and alleviate pain during various medical procedures. Medical nitrous oxide is administered through specialized delivery systems to ensure precise dosage control, providing healthcare professionals with a reliable means of managing patient comfort and facilitating effective anesthesia.
Key Stakeholders
- World Health Organization (WHO)
- National Center for Biotechnology Information (NCBI)
- Centers for Disease Control and Prevention (CDC)
- US Food and Drug Administration (FDA)
- Drug Enforcement Administration (DEA)
- European Medicines Agency (EMA)
- Compressed Gas Association (CGA)
- American Society of Anesthesiologists (ASA)
Report Objectives
- To define, describe, and forecast the medical nitrous oxide market based on the product, application, end user, and region
- To provide detailed information regarding the major factors influencing the growth of the market (such as drivers, restraints, opportunities, and challenges)
- To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall medical nitrous oxide market
- To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
- To profile the key players in the market and comprehensively analyze their market shares and core competencies2
- To forecast the size of the market segments with respect to four main regions, namely, North America, Asia Pacific, Europe, Latin America, and Middle East & Africa.
- To track and analyze competitive developments such as new product launches, agreements, collaborations, and expansions.
Available Customizations:
MarketsandMarkets offers the following customizations for this market report:
Company Information
- Profiling of additional market players (up to 3)
Growth opportunities and latent adjacency in Medical Nitrous Oxide Market